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Bethesda, Maryland 20814 housing market update Where are we!?! New York!?! The Big Apple!?! Nope, this is Bethesda folks! Welcome back for episode 38 of Onsite. We are back to close out our 3-part series on the zip codes that make up my hometown of Bethesda. The 20814 zip code is the area that runs from Bethesda’s central business district (CBD) out to the Beltway-270 link along Wisconsin Avenue and Old Georgetown Road. NIH & Walter Reed are here, Walter Reed are here, beyond are the Maplewood and Lone Oak neighborhoods and on either side of downtown are Edgemoore and Rosedale Park. When I was a kid, most of downtown Bethesda was a combination of one- and two-story buildings with a few high-rises like the Air-Rights building. That is not the case anymore. Seven major developments are being completed right now. In all there are almost forty major developments that are recently completed, under construction, approved or going through approval in the CBD. Such as Carr Properties new 23 story State-of-the-Art office building The Wilson. Marriott has their new 22 story global headquarters here along with a 244-room hotel. A reported $600M development project. Why, do you ask did they choose Bethesda? Well, because they want to retain and attract top talent with all the amenities that downtown Bethesda offers. The Bethesda Urban Partnership came up with a dinning concept “The Streetery” to add additional seats for local restaurants by closing down some of the through streets for open air dining. Did you know there are over 300 restaurants and food shops in the district? Now for some real estate, two hundred eight six (286) homes traded in the zip code this past year for an average sales price of $1,412,029 and with an average of seventeen (15) days on the market. That is a 26% increase in average sales price since or Low MoCo episode we shot in September 2020. Days on market for these houses sped up by 46% since that video. The most expensive home to sell was here in the Edgemoore neighborhood. The circa 2001 home measured over 9,100 sf on an 18,000 sf lot with six (6) bedrooms, six (6) full and two (2) half baths had been completely updated and sold off market for $5,250,000 in May 2021. As for Condos and co-Ops and Co-Ops. There were two hundred eight seven (287) units to trade this past year for an average sales price of $494K with an average of fifty-four (54) days on the market. The highest sales price for a condo unit this past year in Bethesda was here at the fabulous Lauren residences. Unit #602, a penthouse floor apartment, totaled over 3,200 sf with three (3) bedrooms, three (3) full and one (1) half baths, with panoramic city views traded for $2,925,000 or $907 psf. Thank you for joining us today for episode thirty-eight (38) of Onsite with Matt Cheney. And as always like, comment and subscribe. Matt Cheney – Cheney & Co. Washington Fine Properties M: 202-465-0707 E: matt.cheney@wfp.com Website: https://www.mattcheneyhome.com/ Instagram - / matt.cheney Facebook: / mattcheneyrealtor Twitter - / matthewcheney